Politburo adopts Resolution to bolster development of private economy

After nearly 40 years of Doi moi (renewal), our country's private economy has gradually developed in both quantity and quality, becoming one of the important driving forces of the socialist-oriented market economy. The private economic sector currently has more than 940,000 enterprises and more than 5 million business households in operation, contributing about 50% of GDP, more than 30% of total State budget revenue and employing about 82% of the total labor force, creating jobs, being an important force promoting innovation, improving labor productivity, increasing national competitiveness, contributing to hunger eradication, poverty reduction, and stabilizing social life. Many private enterprises have grown strongly, with their brands capable of reaching out to regional and world markets.

However, the private economy is still facing many barriers that hinder its development, has not yet made a breakthrough in scale and competitiveness, and has not yet met the requirements and expectations of being the core force of the national economy. Most enterprises are micro, small and medium-sized; their financial potential and governance level are limited; most have low technological and innovation capacity; labor productivity, operational efficiency and competitiveness are low; they lack strategic business vision and connection with state-owned enterprises and foreign direct investment enterprises.

There are many reasons for the above situation, but mainly due to: Thinking and awareness of the position and role of the private economy in the economy are still inadequate, not keeping up with development requirements; institutions and laws are still entangled and inadequate; authorities have not paid due attention to the development of the private economoy; the rights to property and freedom of business have not been fully guaranteed. The private economy still faces many difficulties and obstacles in accessing resources, especially capital, technology, land, resources and high-quality human resources. Some preferential and support policies are not really effective and difficult to access; business costs remain high.

Given the above situation, the Politburo requests to focus on thoroughly grasping, drastically, synchronously and effectively implementing the following contents:

I- Guiding viewpoints

1. In a socialist-oriented market economy, the private economy is the most important driving force of the national economy, the pioneering force promoting growth, creating jobs, improving labor productivity, national competitiveness, industrialization, modernization, restructuring the economy towards green, circular, sustainable; together with the State economy and collective economy, the private economy plays a core role in building an independent and self-relianteconomy associated with deep, substantive, and effective international integration, bringing the country out of the risk of falling behind and rising to prosperous development.

2. Developing a fast, sustainable, effective and high-quality private economy is both a central and urgent task and a long-term strategic one; it needs to be specified in the country's development strategies and policies; in order to promote all potentials and strengths, liberate all productive forces, activate, mobilize and effectively use all resources, especially resources among the people, for socio-economic development, consolidate and strengthen national defense and security, enhance foreign affairs and international integration.

3. Completely eliminating all prejudices about Viet Nam's private economy; properly assessing the important role of the private economy in national development; nurturing and encouraging the spirit of entrepreneurship and innovation of people and businesses, respecting businesses and entrepreneurs, and identifying entrepreneurs as soldiers on the economic front; fully ensuring the rights to property ownership, freedom of business, equal competition, and freedom to do business in industries not prohibited by law; building and strengthening trust between the State and the private economic sectors; protecting the legitimate rights and interests of businesses and entrepreneurs; ensuring that the private economy can compete equally with other economic sectors in accessing business opportunities and resources of the economy, especially capital, land, technology, human resources, data, and other legitimate resources of the country in accordance with the law.

4. Creating an open, transparent, stable, safe, easy-to-implement, low-cost business environment that meets international standards, and ensuring regional and global competitiveness. Timely developing and perfecting laws, mechanisms, and breakthrough policies to encourage the private economy to develop in priority areas, investing in research, development and application of science and technology, innovation, digital transformation; promoting the spirit of creative entrepreneurship, digital transformation, and legal and legitimate enrichment.

5. Strengthening the leadership role of the Party, the enabling role of the State, taking enterprises as the center and subject; focusing on training and fostering a contingent of entrepreneurs with business ethics and culture, courage, intelligence, dynamism, creativity; honoring, encouraging, and developing a strong contingent of entrepreneurs with patriotism, national pride, aspiration to contribute to national development and actively fulfill social responsibilities.

II- Targets

1. By 2030

- The private economy is the most important driving force of the national economy; it is a pioneering force in the development of science and technology, innovation and digital transformation, contributing to the successful implementation of the goals of Resolution No. 57-NQ/TW, dated December 22, 2024 of the Politburo and other policies and guidelines of the Party.

- Striving to have 2 million operational enterprises, 20 enterprises operating/1,000 people. Having at least 20 large enterprises participating in the global value chain.

- The average growth rate of the private economy is about 10-12%/year, higher than the overall growth rate of the economy; contributing about 55-58% of GDP, about 35-40% of total State budget revenue, creating jobs for about 84-85% of the total workforce; labor productivity is projected to increase on average about 8.5-9.5%/year

- Level, technology capacity, innovation, digital transformation are among the top 3 countries in ASEAN and the top 5 countries in Asia.

2. Vision to 2045

Viet Nam's private economy is expected to develop rapidly, strongly, sustainably, capable of proactively participating in the global production and supply chain. The private economy has high competitiveness in the region and internationally

Striving to have at least 3 million operational enterprises by 2045; contributing over 60% of GDP.

III- Tasks and solutions

1. Creating new impetus and new momentum to develop the private economy

- The Party committees, authorities, the entire political system, business community and people should be fully aware of the position and role of the private economy. The State shall create, serve and support the private economy to develop rapidly and sustainably, without administrative intervention in production and business activities contrary to market principles; build an open, friendly, cooperative, honest relationship between the authorities and enterprises.

- Strengthening communication work, raising awareness and action, stimulating the entrepreneurial spirit, startups, confidence, self-reliance, and national pride of all people to promote strong development of the private economy. Media and press agencies need to improve the quality and effectiveness of information dissemination, ensuring objectivity, honesty, completeness, encouraging and spreading good models, good practices, creativity, efficiency, and encouraging the entrepreneurial spirit in the whole society. Strictly prohibiting acts of harassment, negativity, providing false and inaccurate information that affect businesses and entrepreneurs.

2. Promoting reform, improving and enhancing the quality of institutions and policies, effectively ensuring and protecting the rights to ownership, property, freedom of business, and the right to fair competition of the private economy, and ensuring contract enforcement of the private economy

2.1. Promoting reform, improving and enhancing the quality of institutions and policies

- Innovating the thinking of building and organizing law enforcement to ensure that the economy operates according to the socialist-oriented market mechanism, using market tools to regulate the economy; minimizing intervention and eliminating administrative barriers, the "ask - give" mechanism, and the "can't manage, then ban" mindset. People and businesses shall be free to do business in sectors not prohibited by law. The right to do business can only be restricted for reasons of national defense, security, social order and safety, social ethics, environment and public health and must be stipulated in the law.

- Perfecting the legal system, removing barriers to market access to ensure a transparent, clear, consistent, long-term stable, easy-to-comply, low-cost business environment. Promoting transparency, digitalization and automation, application of artificial intelligence and big data in implementing administrative processes and procedures, especially regarding market entry and exit, land, planning, investment, construction, tax, customs, insurance, intellectual property, standards, regulations... In 2025, completing the review and elimination of unnecessary business conditions, overlapping and inappropriate regulations that hinder the development of private enterprises; reducing at least 30% of administrative procedure processing time, at least 30% of legal compliance costs, at least 30% of business conditions and continue to reduce them strongly in the following years. Strongly implementing the provision of public services to businesses regardless of administrative boundaries. Striving for Viet Nam to rank among the top 3 ASEAN countries and the top 30 countries in the world in terms of investment and business environment by 2028.

- Strongly shifting from pre-inspection to post-inspection associated with strengthening inspection and supervision. Shifting the management of business conditions from licensing and certification to publishing business conditions and post-inspection, except for a few areas that are required to carry out licensing procedures according to international regulations and practices. Amending the Bankruptcy Law to shorten the time required to process legal procedures, expand the scope of application of simplified bankruptcy sanctions; strongly apply electronic litigation procedures, reform the asset handling mechanism. Establishing a mechanism for assessment and feedback on barriers and obstacles in production and business activities. Overcoming the inconsistency in policy implementation between the central and local levels, between ministries, branches and between localities.

- Implementing market mechanisms, without discrimination between enterprises of all economic sectors in mobilizing, allocating and using capital, land, resources, assets, technology, human resources, data and other resources. Reviewing and improving tax, fee and charge policies towards ensuring fair treatment between economic sectors, reducing tax rates, expanding tax bases; strictly prohibiting the abuse of administrative decisions, local protectionism of sectors and localities. Strictly handling acts that limit competition, abuse dominant position, monopoly position and unfair competition.

- Completing the legal framework for new economic and business models based on technology and digital platforms, especially financial technology, artificial intelligence, virtual assets, virtual currencies, crypto assets, crypto currencies, e-commerce... Adopting a testing mechanism for new industries and fields in accordance with international practices. Completing laws and policies on data and data management, facilitating businesses to connect, share, exploit data, ensuring security and safety.

- Creating all favorable conditions in handling administrative procedures; clearly defining tasks and powers between levels and sectors of each agency and unit, clearly defining the responsibility of the head in handling administrative procedures. Strictly handling acts of corruption, personal gain, and harassment of officials and civil servants; at the same time, having a mechanism to exempt from responsibility for cases that have fully implemented related processes and regulations, not for personal gain in the process of performing tasks, but having suffered damage due to objective risks.

- There should be special mechanisms and policies to support small and medium-sized enterprises, ensuring compliance with market principles and international commitments; abolishing business license fees; exempting corporate income tax for small and medium-sized enterprises in the first 3 years of establishment; allocating sufficient resources from the central and local budgets for programs and policies to support enterprises, combining the mobilization of resources from investment funds of enterprises, business associations, industries, research institutes, universities... Strengthening the role of the private economy and entrepreneurs in participating in policy-making.

- Promoting domestic market development, stimulating consumption, diversifying distribution channels, strongly developing digital platforms and e-commerce; effectively and substantially implementing the Campaign "Vietnamese people prioritize using Vietnamese goods"; upgrading and innovating the national trade promotion program; supporting private enterprises in building and promoting their brands. Encouraging the development of private retail corporations; adopting preferential policies for small and medium-sized enterprises and innovative startups to participate in public procurement programs, plans and projects in accordance with international practices. Improving implementation capacity, taking advantage of international commitments and having effective support mechanisms for resolving international disputes for the private economic sector...

- Updating and standardizing the system of indicators, statistical data, and databases on the private economy to serve the assessment, policy planning, and development strategies appropriate for each stage. Putting in place a suitable mechanism to share data systems with agencies, organizations for research, consulting, and policy criticism.

2.2. Ensuring and effectively protecting the rights to ownership, freedom of business, property, equal competition and contract enforcement of the private economy

- Perfecting the legal system for contract enforcement and dispute resolution in the business and trade sectors, shortening the time for resolving contract disputes. Adopting a specific mechanism to handle projects and contracts that have been pending for many years, causing loss and waste of social resources, hindering the development of private enterprises, in parallel with determining the roles and responsibilities of relevant agencies, organizations, units and individuals according to the provisions of law; putting an end to the situation where State agencies and State-owned enterprises are slow to fulfill payment obligations under contracts signed with private enterprises. Enhancing the transparency, effectiveness and efficiency of economic courts and commercial arbitration in handling international commercial disputes to ensure speed, fairness, objectivity and equality.

- Reviewing, completing and effectively implementing legal regulations on the protection of property rights, including intellectual and intangible property rights; minimizing legal risks. Adopting policies to support valuation and protection of domestic intellectual property rights; supporting and encouraging private enterprises to register intellectual property rights abroad and with international organizations. Putting in place strict sanctions for intellectual property violations, especially violations in the e-commerce space. Ensuring full online processing of procedure for establishing industrial property rights, minimizing the time required for carrying out procedures to request the granting of intellectual property rights, and ensure compliance with international practices.

- Putting an end to the situation of overlapping, duplicate, prolonged, unnecessary inspections and examinations; ensuring the principle of only conducting inspections and examinations once a year for enterprises, except in cases where there is clear evidence of violations by enterprises; strictly handling acts of abusing inspections and examinations to harass and cause difficulties for enterprises. Building a data system and artificial intelligence tools to provide early warnings of risks of law violations. Strongly applying digital transformation in inspection, examination and auditing activities. Deploying online inspections and examinations, prioritizing remote inspections and examinations based on electronic data, reducing direct inspections and examinations. Exempting actual inspections for enterprises that comply well with legal regulations.

2.3. Abiding by the principle of clearly distinguishing criminal, administrative and civil responsibilities; between legal entities and individuals in handling violations

- Amend the provisions on criminal law, civil law, criminal procedure code and civil procedure code to ensure the principle when handling violations and civil economic cases, civil, economic, administrative measures should be applied first, allowing enterprises and businessmen to proactively remedy violations and damages. In cases where the practical application of the law may lead to criminal prosecution or no criminal prosecution, criminal prosecution must be resolutely not applied. In cases where criminal prosecution is required, priority must be given to measures to remedy economic consequences first and serve as an important basis for considering subsequent handling measures. Do not retroactively apply legal provisions to handle cases that are unfavorable to enterprises. For cases lacking evidence or unclear evidence, conclusions must be reached promptly to avoid affecting the reputation and normal production and business activities of enterprises and businessmen. Ensuring the principle of presumption of innocence in the process of investigating and trying cases.

- Ensuring that the sealing, temporary seizure, and freezing of assets related to a case or lawsuit must comply with the correct authority, order, procedure, and scope, and must not infringe upon the legitimate rights and interests of individuals and organizations; ensuring that the value of the sealing, seizure, temporary seizure, and freezing corresponds to the expected consequences of damage in the case.

- Clearly distinguishing between legally formed assets and assets obtained from illegal acts and other assets related to the case; between assets, rights and obligations of the enterprise and individual managers in the enterprise. Necessary measures shall be reasonably used to ensure the value of assets related to the case, minimize the impact of the investigation on production and business activities, after reaching a consensus of the prosecution agencies and not affecting the investigation activities.

3. Facilitating private economic access to resources of land, capital, and high-quality human resources

3.1. Increase access to land and production and business premises for the private economy

- Promoting digital transformation, facilitating private sector's access to land and production and business premises. Adopting appropriate mechanisms and policies to control land price fluctuations, especially land prices for production and business and non-agricultural land, to minimize impacts on investment and production and business plans of enterprises. By 2025 at the latest, completing the construction of the National Land Database connected to the National Data Center and related databases. Conducting electronic transactions in the land sector; transparently and proactively providing information to enterprises; minimizing the time required for handling land lease procedures, granting land use right certificates; actively supporting site clearance.

- Localities shall be allowed to use local budgets to support investors in carrying out infrastructure business in industrial parks, industrial clusters, and technology incubators. Upon request, investors reserve a portion of the invested land fund for lease to high-tech enterprises, small and medium enterprises, and innovative startups. Localities, based on the actual situation, shall determine the land fund for each industrial park and industrial cluster to ensure an average of at least 20 hectares/zone, industrial cluster, or 5% of the total land fund invested in infrastructure for the above enterprises. The State shall have a policy of reducing at least 30% of land rental fees for these subjects within the first 5 years from the date of signing the land lease contract. The reduced land rental fee shall be refunded to investors through deduction of land rental fees that investors must pay according to the provisions of law. The State shall adopt support policies on clean infrastructure, electricity, water, transportation, communications, and administrative procedures for high-tech enterprises, small and medium-sized enterprises, supporting industry enterprises, and creative startups.

- Focusing on removing difficulties and obstacles for projects with procedural problems and slow progress; putting into use wasted land resources, public land, unused agency headquarters, land in disputes and prolonged cases. Adopting support policies for small and medium enterprises, supporting industry enterprises, and innovative enterprises to rent houses and land that are public assets that have not been used or are not being used locally.

3.2. Promoting and diversifying capital sources for the private economy

- Reviewing and improving credit mechanisms and policies for the private economy. There should be a policy to prioritize a portion of commercial credit sources for private enterprises, especially small and medium enterprises, supporting industry enterprises, and innovative startups to borrow to invest in machinery, equipment, new technology, green transformation, digital transformation, export credit, and supply chain credit. Encourage financial and credit institutions to lend based on the assessment of production and business methods, plans to expand output markets, lend based on data, cash flow, value chains, consider collateral including real estate, intangible assets, future assets, and unsecured lending.

- Promoting the development of green credit; the State shall adopt a mechanism to support interest rates and encourage credit institutions to reduce interest rates for private enterprises to access loans to implement green, circular projects and apply the environmental, social, and governance (ESG) standards framework.

- Reviewing the legal framework, perfecting the model of credit guarantee funds for small and medium-sized enterprises at both central and local levels; encouraging the participation of financial institutions and large enterprises to guarantee loans of small and medium-sized enterprises; accepting risks due to objective conditions and force majeure in guarantee activities; implementing management according to overall objectives; prescribing reasonable financial reserve fund deduction levels, loosening conditions for granting guarantees compared to conditions for bank loans; adopting a mechanism to supplement resources and reasonable insurance policies to ensure system safety. Mulling over the establishment of a re-guarantee fund and models of cross-guarantee, co-guarantee, etc.

- Completing the legal framework and operation mechanism of the Small and Medium Enterprise Development Fund in the direction of expanding the subjects, simplifying, making transparent, and digitizing the conditions, processes, and procedures for receiving, appraising, lending, and disbursing capital; diversifying capital sources from the State budget, contributions from domestic and international enterprises, organizations, and individuals, etc.; urgently adding functions and tasks of investing in local investment funds and private investment funds to increase the supply of capital for small and medium enterprises and innovative startups; providing seed capital for startup projects, startup loans; building incubators and supporting startups. Encouraging co-financing models of central, local, and private funds and financial and credit institutions to share risks and increase incentives for loans to small and medium enterprises.

- Reviewing and amending regulations on the operations of non-depository lending institutions to diversify credit sources for businesses, especially small and medium-sized enterprises. Amending the legal framework on the operations of financial leasing companies to expand the list of leased assets, including non-traditional assets such as software, exploitation rights, intellectual property, and data. Promulgating a controlled experimental legal framework on peer-to-peer lending and crowdfunding platforms to directly connect small and medium-sized enterprises with individuals and organizations providing capital.

- Connecting and sharing information between banking and tax systems and relevant agencies to ensure connectivity and share data on business operations and corporate finance; assessing creditworthiness and credit scores of businesses from credit institutions, financial funds and third-party credit rating organizations to increase lending to small and medium-sized enterprises and business households.

- Supporting businesses to improve governance capacity, build a transparent and standardized financial system, standardize accounting and auditing regimes, implement solutions to increase reputation and access to financial resources.

- Strengthening inspection, examination, and close supervision of credit institutions' operations and credit granting activities; strictly controling lending activities to serve the internal ecosystem.

- Reviewing and perfecting tax policies, facilitating investment activities of investment funds in enterprises; increasing the investment limit on long-term assets or capital financing in the capital structure of enterprises; establishing a mechanism for mobilizing medium and long-term capital for investment funds. Researching to allow financial investment institutions to expand their ability to mobilize capital from sources such as social insurance funds and voluntary pension funds to develop the capital market, especially medium and long-term capital for private enterprises.

- Promptly upgrading and restructuring the stock market, develop the insurance market, and complete regulations on corporate bonds to improve quality and expand stable, low-cost capital mobilization channels for the private economy. Exploring the development of a legal framework for debt securitization.

3.3. Improving the quality of human resources for the private economy

- Steering resources to developing a network of high-quality universities, vocational training institutions, and key industries. Encouraging the development of joint training programs with foreign countries, and replicating and transferring advanced training programs to serve private economic development.

- Innovating the method of assessment and recognition of graduation with the participation of enterprises for high-quality programs. Supporting and encouraging the form of training according to the orders of enterprises and attracting enterprises to participate more in human resource training. The cost of training and retraining of human resources of enterprises is included in the deductible cost to determine taxable income when calculating corporate income tax.

- Effectively implementing training programs to improve the quality of human resources for the private economy; encouraging localities to use their legal resources to proactively support training programs to develop human resources in accordance with the socio-economic development orientation of the locality.

- Deploying training programs to train 10,000 executives; mobilizing successful entrepreneurs to participate in training, share experiences, inspire, and provide practical and effective support to the business community.

- Promoting education and training in creative skills, STEM, foreign languages, and digital skills at all levels of education to meet the demand for high-quality human resources associated with the development of science and technology, innovation, and startups.

4. Promoting science and technology, innovation, digital transformation, green transformation, effective and sustainable business in the private economy

- Resolutely implementing Resolution No. 57-NQ/TW, dated December 22, 2024 of the Politburo on breakthroughs in science, technology development, innovation and national digital transformation in the private economic sector

- Issuing a legal framework for controlled testing (sandbox) of new technologies, products, services, and new business models; creating a favorable environment for private enterprises to participate in research and application of artificial intelligence, blockchain, big data, e-commerce, financial technology, smart healthcare, etc.

- Businesses shall be allowed to include 200% of the actual cost of research and development activities in determining their taxable income. There should be policies to support investment costs for purchasing machinery, technological innovation, costs of implementing digital transformation, green transformation, sustainable business, and circularity through the mechanism of deducting corporate income tax or funding through funds.

- Enterprises shall be allowed to deduct up to 20% of their taxable income to establish a fund for science, technology, innovation, digital transformation and research and development. Enterprises shall be allowed to use the fund to self-deploy or order external research and development according to the product contract mechanism.

- Private enterprises and organizations shall be allowed to use laboratories, testing rooms, design support rooms and shared research equipment, testing, measurement, inspection and appraisal centers of the State to develop products at reasonable fees.

- There should be a policy on exemption and reduction of corporate income tax for innovative startups, venture capital fund management companies, and intermediary organizations supporting startups and innovation from the time the corporate income tax is payable. Personal income tax and corporate income tax shall be exempted for individuals and organizations on income from the transfer of capital contributions and capital contribution rights to innovative startups. Personal income tax shall be exempted or reduced for experts and scientists working at innovative startups, research and development centers, innovation centers, and intermediary organizations supporting innovative startups.

- The State shall prioritize resources to support investment in developing innovation centers to serve incubation activities for research, testing, development and technology transfer to support innovative and startup businesses.

5. Strengthening connections between private enterprises with State-owned enterprises and FDI enterprises

- Building business linkage chains according to industry clusters, value chains, and supply chains. Encouraging large enterprises to lead domestic supply chains, connecting with small and medium enterprises and business households. Supporting the development of industry linkage clusters, especially in supporting industries, manufacturing, processing of agricultural products, food, information technology, and creative industries. Large enterprises should transfer technology, support product testing, provide technical support, knowledge and training of human resources, and use products and services to small and medium enterprises, considering this an important criteria for enjoying preferential policies of the State. The cost of training and retraining human resources of large enterprises for small and medium enterprises participating in the chain shall be included in deductible expenses to determine taxable income when calculating corporate income tax.

- Encouraging financial and credit institutions to provide capital to private enterprises operating in value chains and supply chains.

- Promptly deploying support policies on research and development, training, consulting, trade promotion, technology transfer, etc. Providing support for enterprises to obtain certificates and certifications that meet industry standards as required by export markets and participate in value chains and supply chains. The State shall support consulting and trade promotion services to connect FDI enterprises with domestic enterprises in industrial parks, key economic zones, and free trade zones.

- Applying appropriate localization rates according to the roadmap in key, spearhead, and priority industries; requiring large FDI projects to have a plan to use domestic supply chains right from the project approval stage. Providing startup support for managers and technical staff who have worked at FDI enterprises to take advantage of experience, knowledge, management models, and relationships with FDI enterprises to participate in the supply chain.

6. Rapidly forming and developing large and medium-sized enterprises and private economic groups of regional and global stature

- Expanding the participation of private enterprises in important national projects; the State shall proactively issue policies on ordering, limited bidding or designated bidding or has preferential policies to encourage the private economic sector to join the State in strategic areas, key and important national scientific research projects and tasks (such as high-speed railways, urban railways, spearhead industries, energy infrastructure, digital infrastructure, green transportation, defense and security industries, etc.), urgent and pressing tasks. Having solutions to promote private enterprises to invest in expanding and developing the provision of high-quality healthcare and education services, developing cultural industries, and entertainment industries.

- Diversifying and improving the effectiveness of forms of cooperation between the State and the private economic sector through such models like public-private partnership (PPP), public leadership - private governance, public investment - private management, private investment - public use, in the fields of economic infrastructure, cultural - social infrastructure, information technology and communications on the basis of taking socio-economic efficiency as a measure for selection. Urgently developing and implementing the Program to develop 1,000 typical enterprises pioneering in science and technology, innovation, digital transformation and green transformation, high-tech industry, and supporting industry.

- Developing and implementing the Go Global Program, focusing on support in terms of market access, capital, technology, brand promotion, distribution channels, logistics, insurance, export performance rewards, consulting, business dispute resolution, trade, mergers and acquisitions, connections with multinational corporations, etc.

7. Providing substantial and effective support for small, micro enterprises and business holdholds

- Reviewing and completing the legal framework for individual businesses; minimize the gap, create all favorable conditions in terms of governance and financial and accounting regimes to encourage business households to transform into enterprises. Promoting digitalization, transparency, simplification of accounting, tax, insurance regimes... to encourage the conversion of business households to operate under the enterprise model. Eliminating lump-sum tax for business households by 2026 at the latest.

- Providing free digital platforms, shared accounting software, legal consulting services, training on business administration, accounting, tax, human resources, and law for small and micro enterprises, business households, and individual businesses.

- Effectively implementing the National Financial Inclusion Strategy, promoting access to and use of financial products for small and micro enterprises, business households, giving priority to business owners, business households managed by young people, women, vulnerable groups, ethnic-mountainous-border-island residents, and inclusive business models.

8. Upholding business ethics, promoting social responsibility and entrepreneurial spirit, creating the most favorable conditions for entrepreneurs to participate in national governance

- Building the contingent of entrepreneurs with business ethics and culture, honesty, integrity, social responsibility, associated with national identity, approaching the quintessence of the world business culture, carrying the aspiration to build a wealthy, strong and prosperous country. Entrepreneurs should take business ethics and culture as the core, promote the spirit of the rule of law. Private enterprises shall be evaluated according to international standards based on the core criteria: (i) Level of compliance with the law; (ii) job creation; (iii) contributions to State budget; (iv) participation in social security

- Promoting the entrepreneurial spirit across the whole society; nurturing and encouraging business and innovation spririt of all people. Promptly introducing business startup training program into educational and training establishments, strongly promoting the spirit of entrepreneurship and business startup among students.

- Honoring, commending and rewarding typical, advanced entrepreneurs and enterprises that operate effectively and sustainably, fulfill social responsibilities well and actively participate in community activities. Mobilizing a contingent of excellent, dedicated and visionary entrepreneurs to participate in national governance.

- Establishing a close, substantive, sharing, open and sincere relationship between Party committees, authorities and enterprises, in which state management agencies must proactively and wholeheartedly resolve problems for private enterprises according to their functions, tasks and authority, promptly report to competent authorities on issues beyond their authority; at the same time, promoting the role of giving honest, timely and true comments and criticism on policies for enterprises and business associations; strictly prohibiting the manipulation and exploitation of policies.

- Private enterprises and entrepreneurs need to proactively innovate their business thinking, be dynamic and creative, maintain their mettle, nurture their will and aspirations, constantly learn, improve their capacity, qualities, and qualifications, accumulate knowledge and experience, strive to rise up, enrich themselves legitimately, and contribute to their homeland and country.

- Continuously strengthening and enhancing the role, functions, tasks and operational efficiency of associations and organizations representing businesses and entrepreneurs to protect the legitimate rights and interests of businesses and entrepreneurs; participating in building, commenting and supervising the implementation of the Party and State's socio-economic development policies and guidelines.

- There should be specific and feasible policies in building the Ho Chi Minh Communist Youth Union and advancing Party building in enterprises, and there should be appropriate mechanisms and regulations for Party organizations in enterprises so that outstanding people in enterprises can join the Party ranks.

IV- Organization of implementation

1. The Party Committee of the National Assembly shall lead and direct the review and improvement of legislation for the development of the private economy, strengthen its supervision of the implementation of this Resolution.

2. The Party Committee of the Government shall:

(i) Direct the development and submission to the National Assembly for promulgation of specific mechanisms and policies at the 9^th working session (May 2025); develop an action program to implement the Resolution.

(ii) Coordinate with the Party Committee of the National Assembly to promptly and fully institutionalize the guidelines stated in this Resolution, allocate sufficient resources to implement this Resolution, and promulgate a Resolution of the National Assembly on private economy development right at the 9^th working session, which covers specific, feasible, and effective mechanisms and policies

(iii) Coordinate with the Central Commission for Communication, Education and Mass Mobilization to organize a conference to disseminate the contents of the National Assembly's Resolution on specific mechanisms and policies for development of the private economy.

3. The Party Committees of ministries, ministerial-level agencies, Government-attached bodies, the Supreme People's Court, the Supreme People's Procuracy, provinces and centrally-run cities shall develop action plans specifying their tasks, solutions, roadmaps and assigning specific tasks to inferior units to implement the Resolution.

4. The Party Committee of the Viet Nam Fatherland Front and central mass organizations shall direct the compilation of programs and plans to guide and mobilize people to implement the Resolution, promote their supervisory role and participate in the formulation of laws, mechanisms and policies for private economic development.

5. The Central Commission for Communication, Education and Mass Mobilization shall take prime responsibility and coordinate with the Party Committee of the Government and relevant agencies in advising the Politburo and the Secretariat on popularization of this Resolution.

6. The Party Committee of the Government shall coordinate with the Central Policy and Strategy Commission, the Office of the Party Central Committee, the central and local-level Party Committees in supervising and evaluating the outcomes of the implementation of this Resolution; report emerging issues to the Politburo for further instructions.

This Resolution shall be disseminated to Party cells./.

For reference only